DF: ACCOUNTING PRINC 14E WPNGEC 1 SEM
DF: ACCOUNTING PRINC 14E WPNGEC 1 SEM
14th Edition
ISBN: 9781119709947
Author: Weygandt
Publisher: WILEY
Question
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Chapter 5, Problem 11Q
To determine

Journalizing: It is the process of recording the transactions of an organization in a chronological order. Based on these journal entries recorded, the amounts are posted to the relevant ledger accounts.

Accounting rules for journal entries:

  • To increase the balance of the account: Debit assets, expenses, losses and credit all liabilities, capital, revenue, and gains.
  • To decrease the balance of the account: Credit assets, expenses, losses and debit all liabilities, capital, revenue, and gains.

To prepare: The journal entries for the given transactions.

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DF: ACCOUNTING PRINC 14E WPNGEC 1 SEM

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